408 2230Provo, UT 84604
- Retail properties
- 7,000 SF
Property Details for 408 2230
- Year built
- 1989
- Property size (Sq ft)
- 7,000 SF
- Property type
- Retail properties
- Property subtype
- Other retail properties
Description
This exceptional two-tenant retail investment property, located at 408 W 2230 N in Provo, Utah (84604), presents a compelling opportunity. The 7,000 square foot building, constructed in 1989, is situated within the River's Edge Shopping Center, less than a mile from Brigham Young University, offering excellent visibility and access. Currently, the property boasts a 50% occupancy rate, with one tenant, Café Zupas, a QSR establishment, occupying half the space and expressing interest in lease renewal. The second space, previously occupied by Wilson Diamond's, is currently generating rental income despite the tenant's relocation. The property's current NOI is $164,820, with a projected NOI of $308,000 by 2026, representing a significant potential for increased profitability. The asking price is $3,800,000, translating to a price per square foot of $542 and a current cap rate of 4.33%. The property is classified as Class B, features a single-story building, and operates under a NNN lease structure. The property's APN is 517330007. This investment offers a strong potential for significant return on investment, driven by the projected NOI growth and prime location near a major university. The property is part of a larger shopping center that includes multi-family units, further enhancing its appeal and potential for future growth.
Location Insight
- City
- Provo
- County
- Utah
- State
- Utah
- Latitude
- 40.2638
- Longitude
- -111.667
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].